Vista Rooms, a hospitality brand exclusively managing the largest network of curated holiday home rentals across India, has raised INR 10 Cr. The round was led by DSG Consumer Partners, with participation from investors including CA Holdings, Artha India Ventures and Anand Ladsariya. The company typically caters to family getaways, friends’ reunions and corporate off-sites. Vista currently manages a portfolio with assets under management over USD 500 Million across 400 properties.
Vista manages privately owned luxury properties in holiday destinations, taking care of the hassles of hosting and generating revenue for homeowners on one hand, while offering a unique stay experience to travellers on the other. By facilitating the stay of group travellers in luxury villas, Vista Rooms addresses a significant market challenge for both travellers and homeowners.
While COVID-19 hit the travel industry severely, with easing lockdowns, travellers have been looking for private staycations at drivable distances in lieu of the more risky options of flights and hotels. As a result, the holiday home rentals market has bounced back with fervour, as evinced by the Airbnb IPO.
Speaking about the raise, Ankita Sheth, Co-Founder of Vista Rooms said, “We have seen an exciting secular shift in traveller behaviour: homestays are becoming the vacation of choice, encouraged by WFH and online school. As people become comfortable with the concept of staycations, we have seen our customers return for more bookings in new locations and homes.” This sudden but lasting lifestyle change is an opportunity for Vista that is already leading to exponential growth.
Vista Rooms has seen occupancy rates 50% higher than what they were pre-pandemic. While their network is strong in holiday destinations around Mumbai, Delhi, Bangalore and Goa, DSG's backing will enable Vista to anchor deeper into each region, and offer even more options to travellers, as well as strengthen its hospitality team to create delightful experiences.
Commenting on their decision to invest, DSG Consumer Partners’ Managing Director, Deepak Shahdadpuri said, "Vista is the category leader in the vacation rental segment in India, achieving this distinction with very little capital raised. The team has also shown resilience through the pandemic and has come out a lot stronger. The company has a clear focus on curating and delivering excellent guest experiences which is reflected in their direct business and repeat guests. The vacation rental segment addresses a clear pain point for both travellers and homeowners. This segment is poised for massive growth and Vista is well-positioned to capitalize on this with its market leadership."
On the avenues where the funds will be allocated, Vista Rooms Co-Founder, Ankita Sheth, said, "Our goal is to allow people to escape - to stay, live and work from the most beautiful homes. We are currently at a major growth stage, and the funds will enable us to accelerate our pace. We will scale our network of properties to over 1000 within the next 18-24 months. The growth enabled by the funding will be fourfold - launching new locations, building out the team, improving technology and furthering brand awareness.”